What Are Workforce Strategies?

by Revelio LabsJuly 28, 2022

Is your workforce evolving with your business needs? If not, you need a data-driven workforce strategy. This is a workforce plan built on real-time industry data and trends. It influences how you hire, retain, and train your workforce. At Revelio Labs, we provide workforce intelligence software that combines data from hundreds of millions of public employment records to emerge a universal HR database.

The database enables us to customize a workforce strategy for your business needs. We eliminate the chances of gambling with talent acquisition and retention.

Why Do You Need Workforce Strategy Software?

A workforce strategy software helps streamline your workforce plans areas of staffing, organizational design, compensation, work culture, and risk management. Our workforce intelligence software applies to different workforce strategies, including:

  • Hiring of new team members
  • Leadership and executive development training
  • Global expansion initiatives
  • Individual career path development
  • Workflow optimization and streamlining.

Building a workforce strategy involves the following steps:

Assessing Your Business Goals

Since businesses grow at different paces, workforce strategies differ. A well-funded tech startup looking to double its growth in two years has different hiring needs from a retail store with two employees. A social enterprise that values profit and quality employees hires differently than a non-profit organization.

When assessing your business goals, the following are some of the aspects to consider:

  • Financial goals
  • Customer goals
  • Employee development goals
  • Social goals
  • Growth goals

At Revelio Labs, we provide information to help businesses develop actionable goals for their workforce. Our data helps you remain competitive as you set your growth goals. As an investor, use industry data to compare different investment opportunities based on the capability of business teams.

Analyzing Future Needs To Help You Meet Your Future Goals

After identifying your business goals, the next step is to map out how you'll achieve them. What are the skill gaps in your business? Can you use data to fill these gaps? Are there any trends you could tap into to improve your business output at a reasonable cost?

We help you answer such questions and more. We build tools that help you understand your current workforce, including the existing gaps and how to fill them.

Workforce Intelligence Software to Access HR Data and Analytics

HR data and analytics provide real-time insights into managing your workforce and attaining your business objectives. A data-driven approach for your HR department prevents you from relying on instincts, which are costly. Our workforce intelligence software helps you stick to what's important and relevant to your organization. These analytics tools help you do the following:

  • Select high-efficiency job applicants by digging into their backgrounds
  • Keep track of fast-rising career paths and how they drive business value
  • Master the characteristics of high-performing teams
  • Meet your diversity quotas in adherence to race, gender, and age

Our data scientists provide you with access to raw data so you can make important decisions for your business. The sophisticated data solutions also track the workforce dynamics of companies you might want to invest in.

Building a Talent Pipeline Framework

A talent pipeline is a pool of potential employees ready to fill positions at your organization. Why should you build one? It helps you stay ahead of the hiring process. Planning for "what if "scenarios reduces stress when a hiring need arises.

The easiest way to build a talent pipeline is to train and improve your current workforce. This fosters employees' career growth and makes filling positions easier. Employee referral programs also draw in qualified candidates for your business. These programs are incentives that prompt your current workforce to vouch for the company and attract new talent.

At Revelio Labs, we provide data that tracks other companies' hiring and lay-offs. We collect and analyze data from job postings, government fillings, and online professional profiles. This helps you access the most recent and updated data about the global talent landscape. We point you in the right direction when it's time to build your talent pipeline.

Evaluating Performance

It's important to measure progress periodically. How many hires have you engaged in the previous quarter? Do you see any results from your recent employee training initiatives? Such questions help in generating performance reports for your workforce strategy.

How to Access the Revelio Labs Workforce Strategy Software

Are you seeking exceptional workforce intelligence software to streamline your HR processes? Want to understand how to help your portfolio company leverage a high-value workforce for business success? Revelio Labs is here to help you!

Whether you need raw data, summary reports, or data for large teams, we have it. We also grant you special access to how the workforce dynamics are switching in real-time. This saves you the costs of carrying out the costly research and analytics. To get started, request a demo from Revelio Labs and have first-hand experience with the software.